"WINNING THE KEYS" ...
or becoming PROPERLY POISED TO PREVAIL in multiple offer situations for a highly desired property in this incredibly competitive, high velocity marketplace is an art which requires well honed strategies for acquisition.
1. THE MARKET:
Deftly track the market closely, preferably with a well seasoned professional specifically experienced and well reputed in your target market.
2. CASH:
For Cash Transactions, prepare your money movement strategies including requisitioning all ASSET VERIFICATIONS for full face value of the intended purchase and secure wiring instructions for both earnest deposits as well as quick closing cash for balances to close. Be prepared to share strategic documents to demonstrate buyer "wherewithal" with all offers (redacting all account numbers always for security).
3. MORTGAGES:
For Leveraged/Mortgage transactions, finish all your mortgage assessments, comparisons strategies and banking/brokerage considerations well before making offers. Requisition your PRE-QUALIFICATION letter with your lender of choice, again to introduce competitively with any offer. Be prepared to demonstrate asset verifications for the balances of cash to close with the offer.
4. MINDSET:
Prepare emotionally to COMPETE IN THE MARKETPLACE and properly assign time and patience to remain present to both compete in "multiple offer" situations and soberly cap your bids while simultaneously understanding price points that are "winning the keys" to properties in your desired marketplace. Forge an UNINTERRUPTED set of efforts until you win a property or you will find yourself continuing to lose properties and having to recalibrate your understanding of inventory in this fast changing landscape of offerings.
5. SIMPLICITY:
Remember that BOTH PRICE AND TERMS "win" properties. Attempt to keep your offer as "clean" as possible in the way of terms including timing, inspections, requests, and closing periods.
#winningthekeys #multipleoffers #strategiestowin

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